Turn your ideas into action
To succeed in business you need the leadership skills to lead a team that can turn your ideas into productive action.
The leadership qualities we all need to have include:
Listening And Learning
There is a classic Simon & Garfunkel song that says, “… People talking without speaking. People hearing without listening … “We have to listen to what our stakeholders say. Analyse the feedback and research the facts so you can make informed decisions that support your business objectives.
Establish channels for continual communication with your stakeholders.
Informed Risk Taking
Business is about taking calculated risk. This requires weighing all the strengths and weaknesses of all available options. The final decision requires steps that can be taken to mitigate risk.
Risk management includes planning the course of action that needs to be taken in the event of a negative outcome occurring.
Some years ago a tsunami destroyed hotels and small businesses along the beach-front in the region of Phuket, Thailand. This was a very popular international tourist destination. When a tsunami happens it can cause almost total loss for businesses in the area. However, the likelihood of a tsunami actually happening is small.
Many of the small businesses in this part of Thailand did not have insurance to cover the losses. The only positive factor was that the capital needed to rebuild these businesses were small enough to enable the leaders of many businesses to restart their business.
Planning for the worst case scenario is an essential leadership skill that can help you to take the necessary calculated risk.
Building A Team of Talents
The extent of leadership success is very depended on the quality of your team of advisers and individuals involved in implementing your action plan.
Engage the best people possible to work with you. Business leadership requires the ability to govern a business competitively. This requires the skills for getting the right talents to perform to best of their ability in implementing your plan of action.
The successful entrepreneurs in the field of information technology succeeded in giving us smart devices and software applications by hiring the best minds in engineering, finance and marketing.
So, learn from the best, build your team of talents and motivate them to act decisively. Siddha Param
International Business Consultant
Reboot your business plan for sustained high growth
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